Gokul Agro Resources Limited has informed the Exchange regarding 'Completion Of Voluntary Winding Up Of Wholly Owned Step-Down Foreign Subsidiary Of The Company, Namely PT. Riya Palm Lestari, Indonesia'.
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Gokul Agro Resources has completed the voluntary winding up of PT. Riya Palm Lestari, its wholly owned step-down subsidiary in Indonesia (held through Maurigo Indo Holdings Pte. Ltd.). The step-down subsidiary was no longer needed because the company's purpose for it was resolved after Maurigo Indo Holdings entered a joint venture with PT. Riya Pasifik Nabati in December 2023. The winding up was completed on 25 February 2025 under Indonesian law, and the company received the official letter from the Indonesian authority on 16 April 2025. No consideration was received from the wind-up. The subsidiary was financially insignificant, contributing only about 0.003% of turnover and 0.016% of net worth in FY24.
This is a routine housekeeping action with no meaningful financial impact on shareholders — the entity being wound up was negligible in size and the move simply streamlines the foreign subsidiary structure.